I have been a Realtor in the sunny Okanagan Valley for over 5 years now. I am not a new agent and my years of experience along with the over 20 million dollars worth of Real Estate transactions that I have presided over have taught me well. I am a laid back guy and I value interpersonal relationships and experiences above all. I look forward to meeting you:-)

Monday, February 28, 2011

Ever wonder where home buyers come from? Since September 2010, OMREB has been collecting information from our members with regards to where our buyers are coming from – both geographically and demographically. The purpose of collecting this data is to add another element to our market knowledge and a better understanding of current trends. The longer the record, the more insight the Board will have.

Results of OMREB’s new Board-wide monthly Buyers Survey indicate that serious buyers are taking advantage of the current market and leveraging their positive purchasing power while it lasts. Buyer profiles gathered through each monthly survey include property type, family dynamic, financing, and areas moving from and to. On average during the past five months, home buyers have been coming from: within the OMREB Board area (57.28%); Alberta (14%); Lower Mainland/Vancouver Island (13%); other areas of BC (7.3%); Saskatchewan/Manitoba (3.78%); outside Canada (2.58%); and Eastern Canada/Maritimes (1.88%). Click here for fourth quarter 2010 highlights.

January 2011 Survey Highlights: 31.7% of purchases in the OMREB Board area were by Move Up Buyers, and 27% by First Time Buyers, 7.9% Single Family to Strata, 4.8% Revenue Property, 3.2% Recreation Property, 3.2% Strata to Single Family, 1.6% to Retirement Community; 29.9% were Two Parent Families With Children, 19.4% of Buyers were Couples Without Children, 17.9% were Single Females, 13.4% Single Males, and 11.9% Empty Nesters/Retirees; 53.8% financed via Conventional Mortgage (with more than 20% down), 27.7% by High Ratio Mortgage (less than 20% down, and 18.5% paid by Cash; 64.2% were from Within OMREB Board Area, 13.4% were from Lower Mainland/Vancouver Island, 9% from Alberta, and 6% from other areas of BC; 56.7% of purchases were in Kelowna/West Kelowna, 10.4% in Vernon/Coldstream, and 9% in Salmon Arm. Click here for pie chart summary for January 2011, and here for highlights comparison (December 2010-January 2011).

Real estate markets can be driven by local demand, demand stemming from outside the region or province, by international sources, or by a combination of all three. “Knowing how many homes are sold and at what price is an important part of the picture,” notes Brenda Moshansky, OMREB President and REALTOR® in the Central Zone. “However, understanding who your buyers are and where they come from can reveal not only market dynamics but also identify which factors actually drive local demand. For example, a change in entry level buyer activity can have a ripple effect throughout the entire market as many move-up buyers rely on first-time buyers to purchase their existing homes.”

“Housing markets in Vancouver, for example, are being bolstered by off-shore buyers while the Alberta market is closely linked to natural resource prices and their job market,” Moshansky explains. “Since a sizable proportion of local sales come from buyers that originate outside our region, 50% being non-local, we need to keep an eye on Alberta and the Lower Mainland. Our monthly Buyers Survey helps to do just that. “

So if you were curious as to what is moving our local real estate market, this is a bit of insight.

Having had several bad expierences with realtors, I was very skeptical when a friend of mine suggested Trevor to me. After meeting him and having him be really non-pressuring I figured I'd give him a try.

I gave only the most vauge in required details (3 bedrooms, between ellison and westbank and it had to be detached) by the time I got home from work he had already sent me roughly 80 listings that fit that description. I then gave him more details. He has set up automated email listing for anything that gets posted to MLS that fits my criteria.

He is well kept, polite, professional and very accomodating. I would and have already recommended Trevor to people I know who are looking to sell or buy.

Thank you for helping us find a home that has everything we were looking for. You made the process of selling the condo and buying our first home together so easy and worry free. We were very happy when the condo sold after being on the market for only a few weeks and for a such a great price! We would not have been able to get the house we wanted without your amazing negotiating skills. If we hear of anyone looking to buy or sell their home we won't hesitate in recommending you.

Sunday, February 27, 2011

This place was like a time capsule...the owner was the original owner and the home was built in 1901!!! He was born in the house and never moved! He inherited it from his parents and nothing...I mean nothing had been changed...not even the pictures! you could see the wall colour behind the pictures was different they had been hanging there so long...It was pretty cool. Not the most functional place for us modern types with no laundry room or anything. Each bedroom had its own little portable washing machine and spin dryer. Pretty interesting stuff. I have included a photo of some of the knob and tube wiring which was visible in the cellar...ya I said cellar;-)

There was some updating done to the wiring which you may note in the picture....the roof has 4 layers of shingles layered one over the other....better get a big bin if you tear that one apart

This has happened to me two times this week! Once it Starbucks because the person did not know how to ring a bottle of syrup in. Then it happened again at sears because the did not want to sell me the item on the floor even though I wanted to pay full price! What's the point of keeping the one on the floor if nobody can buy it anyhow!!! I would kill my staff if the did not make the sale!....just saying

Thursday, February 17, 2011

Well I got Softmoc slippers for my birthday and I love them...so I'm old and there are no two ways about...but that's ok because I can't feel upset For 2 much longer because it's 9pm and its my bedtime...lol

Wednesday, February 16, 2011

This 2005 built, 4 bedroom Corner Unit townhouse is bright, clean and centrally located and perfect for a young family or first time home buyer. Move in ready with very low strata fees. Located close to shopping, dining, and bus routes. Super close to Costco and Wal-Mart! 3 bathrooms including a great master ensuite, laminate flooring, oversized single garage, 2 parking spots, huge walk in closet with a window in master . Just move in--excellent value.

To see more pictures or get more info visit www.florko.ca - This open concept 3 bedroom, 2.5 bath, North Glenmore Townhome has everything you need. This unit DOES NOT BACK ONTO GLENMORE BYPASS!! Wyndham Terrace is a great place to raise a family. It is close to both elementary and middle schools as well as shopping, golf courses and the airport. Nestled into a peaceful park like setting this complex is perfect for families with young children. There is even a great playground right in the middle of the development. This unit also boasts an oversized single car garage. In suite laundry. Beautiful back deck over looking green space and facing Wyndham Crescent.

Friday, February 11, 2011

If you are thinking of selling your home have a look at what I do to help make that happen. I do a lot of things that other agents don't....in fact I just did the math and I advertise my listings on OVER 75 websites!!! Call me if you have any questions!

This are 2 pictures from a group of amazing photos I took in the summer of 2010. The parents were buzzing around my head while I took this so I had to get in and out as soon as possible....these were some hungry little guys....I was just thinking about them today because of the budgies squawking in my ear right now;-)

Only $450,000!!! Best priced 5 bedroom home in Black Mountain!!! NO HST!! This home has valley and mountain views. 3 bedrooms on the main along with 2 bathrooms and great room concept living room/kitchen with vaulted ceilings. Kitchen has maple cabinets and island. Lower level has 2 bedrooms, full bathroom, laundry room, family room and large foyer. The property also has 3 decks and a very usable back yard. The home was purchased in 2010 for roughly 430k. The home has since had $55,786 worth of upgrades!!! Including full top of the line stainless steel appliance package. Finished basement. Fully landscaped front and back yards (including very pricy and attractive stone retaining walls). Jump on this listing as it wont last long!! Measurements taken from plans verify if important. Visit www.florko.ca for more pictures and info!

Tuesday, February 1, 2011

Since October 2009, the Government of Canada has been systematically tightening mortgage financing regulations for all federally regulated lenders. The changes have been made in order to ensure that Canadians are prepared for higher interest rates in the future by not taking on too much debt, which will improve the stability ofCanada's housing market.

On January 17, 2011, Federal Finance Minister Jim Flaherty announced additional changes to the rules for government insured mortgages.

We want to be sure you understand the changes and how they might affect your clients' home financing options. Three new measures that have been announced are as follows:

New Guidelines – Effective March 18th 2011

1) Lowering the maximum amount consumers can borrow when refinancing their home

This change will lower the maximum mortgage amount for refinances to 85% of the appraised value of the property from the current 90%. This change will help to promote savings in homeownership and ensure that homeowners don’t become overextended by using all the equity they have built up in their home when refinancing.

2) Reducing the maximum amortization period for new government insured (default insured) mortgages

The maximum amortization for all new default insured mortgages will be reduced to 30 years from the current 35 years.This change will help reduce total borrowing costs for consumers, helping them to build up equity more quickly.

As an example, a $300,000 mortgage with a 4.5% interest rate and an amortization of 35 years has a monthly payment of $1412.05 and total interest cost of $293,059.17 over the life of the mortgage. The same mortgage with a 30 year amortization has a monthly payment of $1512.65 but total interest cost reduces to $244,551.49. The difference of roughly $100 a month in monthly payment reduces the interest cost by almost $50,000 over the life of the mortgage.

New Guideline - Effective April 18th 2011

3) Withdrawing government insurance backing on lines of credit secured by homes

Home equity lines of credit generally offer a variable interest rate and often have no repayment terms associated with them, which exposes borrowers to an increase in interest costs should interest rates as expected. Due to an increase in the household debt associated with these loans, the federal government wants to limit the amount of equity for which these loans can be granted

Loans that have repayment terms associated with them will still be eligible for default insurance.

We're here to help your clients get the right advice

Getting pre approved for a mortgage is a great first step in the home buying process, but reviewing that pre approval as a result of these changes is very important.

Unless the Winter Olympics are on television or someone is clubbing baby seals, Americans don't pay much attention to what's happening in Canada. It's as if we live in a house with a set of quiet, orderly neighbors on one side and a bachelor pad with drunken parties, girls in the hot tub and occasional gunshot eruptions on the other. To whom would you pay more attention?

I dare say Americans could correctly name the president of Mexico (Filipe Calderon) over the prime minister of Canada (Stephen Harper) by a margin of 5-to-1. That's too bad. While we have every reason to fear the disorder spilling over from our increasingly lawless neighbor to the south, our well-mannered Canadian neighbors have pulled their act together. We could learn a lot from them.

Look what's not happening in Canada. There is no real estate crisis. There is no banking crisis. There is no unemployment crisis. There is no sovereign debt crisis. Recent reports suggest that consumers are loading up too much debt, but Canada shares that problem with nearly every other country in the industrialized world.

Now, instead of expanding Canada's welfare state, the conservative government led by Mr. Harper is intent upon building the nation's global competitiveness. Our friends in the Great White North cut their corporate tax rate to 16.5 percent on Jan. 1 and will see it drop to 15 percent next year. That compares to the current U.S. corporate tax rate of 35 percent.. That will give Canada the lowest corporate tax rate among the G-7 nations and an eye-popping advantage for businesses wondering whether to locate on the U.S. or Canadian side of the border.

The last time Canadians really caught Americans' eyes was when prime ministers such as Jean Chretien and Paul Martin, both leaders of the Liberal Party, were proving uncooperative in the realm of foreign policy. American media played up disagreements over the invasion of Iraq and Canadian participation in the American National Missile Defense Program, which made President George W. Bush look bad and confirmed the narrative that his cowboy foreign policy had alienated old friends around the world. By contrast, when Canadian soldiers under the conservative government became active combatants in Afghan-istan, the American media showed little interest.

But that's nothing new. Except to note how well or how poorly Canada's national health care system was working, Americans have paid little heed to news coming out of Ottawa. The titanic effort of both Canada's liberal and conservative parties in the 1990s and 2000s to rein in government spending largely escaped our notice. Nor did it ever occur to anyone to wonder why, with our economies so closely entwined, U.S. housing *****s were busting through the roof while Canadian houses remained so sensible.

It turns out that Ottawa's housing policies and banking regulations tempered the boom in real estate *****s. No tax deductions for mortgage interest payments.. And get this: Buyers actually had to make down payments on their houses. Because there was no real estate bust, there was no banking crisis. (Indeed, healthy Canadian banks are snapping up U.S. financial assets.) Despite the lack of public policies geared toward stimulating homeownership, Canadian homeownership was 68.4 percent in 2008. That would be a higher number than in the United States, which was 67.4 percent in 2009.

Lesson to Americans: If you want affordable housing, stop promoting policies to make it more "affordable."

Meanwhile, Canada has many of the same assets that Americans like to brag about, such as an immigrant tradition that invites foreigners to live and work in the country. On a per-capita basis, the rate of legal immigration to Canada is comparable to that to the U.S. Settling in world-class, creative cities like Toronto and Vancouver, foreigners add immeasurably to the nation's wealth-creating capacity

Talented Canadians have long regarded the United States as the land of opportunity. It may not be long before Americans see our northern neighbor as the land of the future.

James A. Bacon is author of the book "Boomergeddon" (Oaklea Press, 2010) and publisher of the blog by the same name.